DAILY NEWS

Daily News – 8 July 2022 (Fri)

SINGAPORE REAL ESTATE

UOL to start previews for Ang Mo Kio condo at prices from S$1,890 psf
Previews for new Ang Mo Kio project AMO Residence, being built by UOL Group, Singapore Land Group and Kheng Leong Company, will start this Saturday (Jul 9) with prices starting at S$1,890 per square foot.
https://www.businesstimes.com.sg/real-estate/uol-to-start-previews-for-ang-mo-kio-condo-at-prices-from-s1890-psf

Muted auction results in June
Muted results were seen in the auction market last month. Marketing agents Edmund Tie and Knight Frank each sold 1 property under the hammer during their auctions on June 22 and 29 respectively.
https://www.businesstimes.com.sg/real-estate/muted-auction-results-in-june

Amazon said to have inked lease for 369,000 sq ft at IOI Central Boulevard Towers
Amazon has signed a lease for about 369,000 sq ft at IOI Central Boulevard Towers, The Business Times (BT) understands. The space that the multinational tech giant is taking comprises both office floors of 70,000 sq ft each in the development’s podium and all 9 office levels (of 25,400 sq ft each) in the East Tower.
https://www.businesstimes.com.sg/real-estate/amazon-said-to-have-inked-lease-for-369000-sq-ft-at-ioi-central-boulevard-towers
https://www.straitstimes.com/business/property/amazon-said-to-ink-big-office-lease-at-ioi-central-boulevard-towers

Hafary gains from property boom, but higher interest rates may weigh on earnings
Even through the Covid-19 pandemic and lockdowns, residential property prices in Singapore have consistently trended higher. The booming property market benefits suppliers in the ecosystem, and players such as mainboard-listed Hafary Holdings have recorded a growth in earnings over the past year.
https://www.businesstimes.com.sg/companies-markets/hafary-gains-from-property-boom-but-higher-interest-rates-may-weigh-on-earnings

HDB resale prices log 24th month of increase; June prices up 11.4% from a year ago: SRX, 99.co
Resale prices of Housing and Development Board (HDB) flats increased for the 24th consecutive month in June, while volumes fell from a month ago, according to flash estimates from property portal SRX and 99.co released on Thursday (Jul 7).
https://www.businesstimes.com.sg/real-estate/hdb-resale-prices-log-24th-month-of-increase-june-prices-up-114-from-a-year-ago-srx-99co
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-for-24th-straight-month-in-june-ground-floor-yishun-flat-sold-for-1m

SINGAPORE ECONOMY

Job redesign, outcome-based contracts can boost estate, facilities management sector: SBF
Workers in the estate and facilities management (EFM) sector can stand to benefit from “multi-skilling” and the implementation of outcome-based contracts, the Singapore Business Federation (SBF) said on Thursday (Jul 7).
https://www.businesstimes.com.sg/government-economy/job-redesign-outcome-based-contracts-can-boost-estate-facilities-management

Singapore unemployment rate flat at 2.2% in May, likelihood of downturn ‘low’: MOM
Singapore’s unemployment rates in May stayed unchanged from the month before, and the likelihood of a downturn remains low, the Ministry of Manpower (MOM) said on Thursday (Jul 7). Overall unemployment remained at 2.2 per cent; resident unemployment, 3 per cent; and citizen unemployment, 3.1 per cent, according to MOM’s monthly unemployment report for May.
https://www.businesstimes.com.sg/government-economy/singapore-unemployment-rate-flat-at-22-in-may-likelihood-of-downturn-low-mom

Asia inflation to peak this quarter: Morgan Stanley
Bets that Asian central banks will keep ramping up interest rates are overdone as inflation is likely to peak this quarter, according to Morgan Stanley. Consumer prices may rise less rapidly than currently expected given supply imbalances are reversing, global food costs have fallen and wage pressures will be muted, economists led by Chetan Ahya wrote in a note on Wednesday (Jul 6).
https://www.businesstimes.com.sg/government-economy/asia-inflation-to-peak-this-quarter-morgan-stanley

Inflation accelerates across Asia as experts warn of higher prices to come
For nearly 40 years, Mr Aristiyo Caraan has driven one of Manila’s ubiquitous jeepney minibuses, the transport mainstay for construction workers, cleaners and other modestly paid workers that charges fares of only a few cents.
https://www.straitstimes.com/asia/se-asia/inflation-accelerates-across-asia-as-experts-warn-of-higher-prices-to-come

COMPANIES’ BRIEF

SPH Reit posts 5.1% rise in Q3 DPU
SPH Reit posted a 5.1 per cent increase in distribution per unit to 1.45 Singapore cents for the third quarter ended May 31, 2022, from 1.38 Singapore cents a year ago. This gives it an annualised distribution yield of 5.8 per cent.
https://www.businesstimes.com.sg/companies-markets/sph-reit-posts-51-rise-in-q3-dpu
https://www.straitstimes.com/business/companies-markets/sph-reit-posts-51-rise-in-q3-dpu

VIEWS, REVIEWS, FORUM AND OTHERS

Singapore confirms another imported case of monkeypox
Singapore – The Ministry of Health (MOH) on Thursday (July 7) confirmed another imported case of monkeypox in Singapore. The patient is a 36-year-old male Indian national who lives in Singapore and had recently returned from the United States, said MOH.
https://www.straitstimes.com/singapore/health/singapore-confirms-another-imported-case-of-monkeypox

askST: Should Singaporeans worry about monkeypox?
Singapore – Monkeypox cases continue to spring up in Europe and, on Wednesday (July 6), Singapore reported the first local case – a 45-year-old man who lives here. He is not linked to the country’s first imported case, which was announced on June 21, and contact tracing is ongoing, said the Ministry of Health (MOH).
https://www.straitstimes.com/singapore/health/askst-should-singaporeans-worry-about-monkeypox